Paddy Power in discussions to combine United States business with FanDuel

Wednesday, 16 May, 2018

British bookmaker Paddy Power Betfair Plc PPB.I is close to buying US daily fantasy sports company FanDuel, according to a report on Tuesday by the Legal Sports Report (LSR), citing unnamed sources.

According to media reports, Paddy Power Betfair has entered negotiations for the acquisition of the online daily fantasy sports (DFS) operator FanDuel in an attempt to take advantage of the recently-lifted federal ban on sports betting in the US.

"Discussions are ongoing and there is no certainty as to whether agreement will be reached, or as to the terms or timing of any transaction", the group said in a statement.

FanDuel previously stated its intention to launch a sports betting service should the Supreme Court overturn the federal 1992 Professional and Amateur Sports Protection Act (PASPA), which has blocked more states from offering regulated sports betting.

FanDuel, founded in Edinburgh, is backed by private equity firm Kohlberg Kravis Roberts, Google Capital and NBC Sports Ventures. Last year, the company bought a daily fantasy company, Draft.com, that has a far smaller footprint than either FanDuel or DraftKings, the two dominant players in the market.

The news follows Monday's US Supreme Court, paving the way for individual states to legalise the practice.

The move offers a potential lifeline to United Kingdom bookmakers, which are braced for the imminent outcome of a review into so-called fixed-odds betting terminals that is expected to slash the maximum stake punters are allowed to bet.

ProShares Short MSCI EAFE (EFZ) Rises 0.76% for May 15
Investors who are able to stay calm and think logically should be able to better position themselves when markets become stormy. The ETF's average P/E ratio is 9.19, the price to book is 1.15, the price to sales is 0.94 and the price to cashflow is 4.47.

UEFA prepares to fight Saudi-backed Club World Cup plan
As a result, the competition is expected to take away the existing tournaments: the Club World Cup and the Confederations Cup. The Reds are reported to have been invited to take part in a new 24-team competition could be held every four years.

Allardyce immediately relieved as Everton manager
"On behalf of the chairman, board of directors and Mr Moshiri, I'd like to thank Sam for the job he has done at Everton ". The Echo reports that Oddschecker has seen a "flurry" of bets coming in from punters for Fonseca's appointment.

Marcus Smart calls out JR Smith for 'dirty' play
Smith got a flagrant foul, and Smith and Smart were assessed double technicals for their flare-up. This isn't the first time Smith got himself caught in the middle of the Boston's crowd's anger.

Reilly Smith continues setting up goals for Golden Knights
The Jets smothered the Golden Knights' defensemen, and turned the approach into 10 takeaways and a number of scoring chances. At the 17:22 mark the Golden Knights were ahead 2-0, but they knew the Jets wouldn't abort their mission.

Microsoft said to plan low-cost tablet line to rival iPad
A $400 Surface might draw in new audiences that previously weren't interested due to the high-price of Surface products usually. A credible Bloomberg report claims that Microsoft will deliver a $400 Surface-branded tablet by late 2018.

Apps on Google Play
It works as you'd imagine, letting you mark out preferred topics, news sources and locations to filter your reads. Along with the five stories, the app also features algorithmically chosen articles and local news stories.

Oil supported by Iran sanction fears, holds near 2014 highs
US West Texas Intermediate (WTI) crude futures were at $71.02 a barrel, down 29 cents, or 0.4 percent, from their last settlement. The production growth may be far from over, contributing to USA crude´s discount to Brent , analysts said .